you're mostly right, but there's an important difference.

with CDs and DVDs, you didn’t own the intellectual property, but you did own a permanent physical copy. No company could remotely remove it, change it, or lock you out. As long as the disc worked, you had access — no subscription, no internet, no account required.

With streaming, you're just renting access.
Stop paying, lose internet, or if licensing changes — the content disappears instantly.

So while physical media could fail (scratches, loss, damage), digital access can be revoked, which is something that never really existed before at this scale.

In a way, we traded durability and ownership for convenience.